Druff, this is a fantastic analysis. I hadn’t actually dug into each of the trades to see the progression. But it does appear that for at least a while he as been making money...albeit not much of it if you go by the trades we are seeing.
Two other things to keep in mind:
We never see his Bitcoin wallet so we don’t know what other value he might have out there that he isn’t trading. But since we do know that Chrissy’s plan is to always shoot for that 3% on his total investment it’s reasonable to think that he’s using the full balance wth every trade (though you would hope he’s doing some sort of hedging...but that would require some actual trading sense
Yes he had no positions as of when this video was created. BUT when you make trades with Bit7 everything is settled in Bitcoin. So what this means is that while he may have gained extra bitcoin by doing these leverage trades (and you can see the amounts) at the end of the day he was still holding Bitcoin. So if he didn’t immediately take those gains over to somewhere where he could swap them out for US Dollars he would have still lost lots of value later in the day when the price of Bitcoin plunged. Now granted...he can just hold onto the Bitcoin and see if things turn around. But if you don’t flip this to USD at some point you actually don’t realize the gains you want in your 3% strategy (which is all based on having everything in US Dollars).
Oh...and by the way...in his video from Feb. 15th he claimed to have made some 100x trades (yet he keeps saying that people are idiots if they do that).
Bitcoin has dropped close to 25% in the past 48 hours. I’m sure Chrissy was nice and prepared for this.